BRIMC is a relatively new term used to refer to the combination of Brazil, Russia, India, Mexico, and the People's Republic of China.
The term derived from the Goldman Sachs investment bank thesis called BRIC. Jim O'Neill, expert from the same bank and creator of the economic thesis, stated that in 2001 when the paper was created, it did not consider Mexico, but today it has been included because the country is experiencing the same factors that the other countries first included present.[1][2] The main point of this paper was to argue that the economies of the BRIMCs are rapidly developing and by the year 2050 will eclipse most of the current richest countries of the world. A Goldman Sachs paper published later in December of 2005 explained why Mexico wasn't included in the original BRICs. According to the paper,[3] among the other countries they looked at, only Mexico and perhaps Korea have the potential to rival the BRICs, but they are economies that they decided to exclude initially because they looked at them as already more developed. According to that paper, Mexico becomes the sixth-largest economy, ahead of Russia. However, due to the popularity of the Goldman Sachs thesis, "BRIMC" is becoming a more generic marketing term to refer to these five countries, or even to newly industrialized countries in general.
The term is primarily used in the economic and financial spheres as well in academia. Its usage has grown specially in the investment sector, where it is used to refer to the bonds emitted by these emerging markets governments.[4][5][6]
- ^ Le Figaro, newspaper, interview with expert Jim 0'Neill (in French)
- ^ United Nations University
- ^ "How Solid are the BRICs?" (PDF). Global Economics. Retrieved 2008-07-18.
- ^ Correio Da Manha, newspaper
- ^ Business Standard, "Emerging risk and return"
- ^ Company News Group, "L'oreal, first quarter sales report"